India

Enforcement

RBI to Create New Unit to Strengthen Financial Sector Supervision

By Editors | 23/05/2019

The Reserve Bank of India has announced the establishment of a new unit to streamline its supervision and regulation of banks and financial companies.

Market Infrastructure

New Directive for Indian AMCs a Boost for Offshore Fund Flows

By Editors | 23/05/2019

Indian asset management companies serving offshore funds as advisers will now be entitled to tax benefits which will enable them to take up direct fund management of offshore funds.

Securities / Derivatives

SEBI Permits Mutual Funds to Trade Commodity Derivatives

By Editors | 23/05/2019

Mutual funds will be allowed to trade exchange-traded commodity derivatives, but cannot invest in physical goods, except through gold ETFs.

Fintech / Regtech

SEBI Publishes Capital Markets Sandbox Framework

By Editors | 22/05/2019

SEBI’s sandbox framework for capital markets innovation comes just weeks after the RBI released its own sandbox framework for banking and payment services.

NBFCs Must Appoint Chief Risk Officer – RBI

By Editors | 20/05/2019

The CRO must function independently, with no other responsibility or ‘dual hatting’, and report directly to the MD, CEO, or risk management committee of the board.

Enforcement

NSE India Fines 250 Listed Companies

By Editors | 17/05/2019

India’s National Stock Exchange has fined 250 firms for non-compliance with its listing obligations and disclosure requirements.

Market Infrastructure

India to Quadruple Digital Transactions in Three Years – RBI

By Editors | 17/05/2019

In its three year roadmap for India’s payment and settlement systems, the RBI says it expects the number of digital transactions in the country to increase to 87 billion by December 2021.

Market Infrastructure

ESMA Recognises India ICC as Third Country CCP

By Editors | 15/05/2019

The recognition gives India ICC QCCP status across the European Union. QCCP members are subjected to lower capital requirements/charges under Basel III.

Market Infrastructure

SWIFT Responds to India Cyber Threat With New Paper

By Editors | 13/05/2019

SWIFT has published a new paper to help financial institutions in India improve their monitoring of anomalous and potentially fraudulent transactions.